QFINANCE: News Briefing (March 23–29, 2012)

Each week QFINANCE.com brings you some of the biggest news stories from the past five days in finance and business—essential reading to keep you up to date with latest topics.

If you have any views on how we can improve this service or new areas you would like to see covered, please do not hesitate to contact us at qfinancenews@bloomsbury.com, and come back next Thursday for another report on the world of business and finance.

Friday March 23

In India, a major government scandal was made public last Friday accusing the government of forgoing $210bn in potential revenues by selling coal assets cheaply to the top Indian’s industrialists. In the UK, Chancellor George Osborne was trying to push the public attention away from the “granny tax”, by hailing the creation of 1,000 jobs by GlaxoSmithKline.More on the FT

Monday March 26

The week started off well for Britain as Nick Clegg announced a free trade agreement with South Korea which could bring up to £500m a year into the UK economy. In 2010 and 2011, more than half of the Korean investments were in the UK. "The best of British design, innovation and services will have even greater opportunity to show their strength in South Korea," Clegg told the BBC.More on BBC

Tuesday March 27

US Fed chairman Ben Bernanke gave an analysis of the economical situation of the country and warned on Tuesday that the decreases in unemployment would not last long unless they were sustained by strong economic growth. On another note, The World Bank nominee Jim Yong Kim was being highly criticized over a book he co-authored, in which he questions “neoliberalism” and “corporate-led economic growth.”More on the FT

Wednesday March 28

A £10bn investment from Abu Dhabi was discussed between UK government officials and potential investors in both the part-nationalized RBS and Lloyds banks. The FT reported that Sheikh Mansour, who previously bought the English football club of Manchester City, has shown clear interest in buying part of the UK government’s RBS holding.More on the FT

Thursday March 29

After the UK growth expectations were revised down on Wednesday by the ONS, the Organisation for Economic Co-operation and Development (OECD) is forecasting a British recession with an annualized contraction of 0.4% in the first quarter. But Chancellor Osborne seems determined to believe that: “our own forecast from our own independent body, which we published last week, says we are going to avoid a recession.”More on BBC

Designing winning asset and fund strategies has become crucial for overcoming the new regulations issues, financial market turbulences and public distrust. The 2nd Annual Asset and Fund Management Forum (Prague, 24-25 May 2012) will help participants understand CEE/SEE/CIS markets and gain expert insights from Western European asset and fund managers. Special case study: Designing a winning pension fund strategy in the CEE region (the largest 2nd pillar fund in Lithuania)

An efficient set-up for back office organization can be a strategic advantage in the overall business model. The 9th Annual Back Office Forum (Amsterdam, 24-25 May 2012) will provide participants with insights on operational excellence, cost efficiencies, reliable automation and much more. This year's forum will unveil how the back office can add value to a business in an unstable environment with the financial crises threatening to come back.

Instruments, markets, strategies. Black-Scholes formulas and beyond. Fleming Europe's Equity Derivatives Masterclass, to be held in Frankfurt, 24 - 25 May 2012, will provide all participants with a clear understanding of equity derivatives from a practical point of view, in order to find the right type of investment combination. The participants will gain expert insights from Alberto Cherubini and practical knowledge through Excel exercises. Course level: Beginner.

2nd Middle East SME Forum: Understand aspects of SME initiatives, economical and financial role in SME growth and entrepreneurship perspective in the Middle East. Eminent speakers, relevant case studies and expert advisory panel discussions would be highlights of the conference thus providing opportunity for networking and enhancing the scope of the SME sector in Middle East.